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On July 1, Flint Corporation purchases 510 shares of its $5 par value common stock for the treasury at a cash price of $8 pershare. On September 1, it sells 260 shares of the treasury stock for cash at $12 per share Journalize the two reasury stock transactions, ist all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Date July 1 Sept. 1 Debit Credit

On July 1, Flint Corporation purchases 510 shares of its $5 par value common stock for the treasury at a cash price of $8 pershare. On September 1, it sells 260 shares of the treasury stock for cash at $12 per share Journalize the two reasury stock transactions, ist all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Date July 1 Sept. 1 Debit Credit

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On July 1, Flint Corporation purchases 510 shares of its $5 par value common stock for the treasury at a cash price of $8 per share. On September 1, it sells 260 shares of the treasury stock for cash at $12 per share Journalize the two reasury stock transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Date July 1 Sept 1 Debit Credit
Transcribed Image Text:On July 1, Flint Corporation purchases 510 shares of its $5 par value common stock for the treasury at a cash price of $8 per share. On September 1, it sells 260 shares of the treasury stock for cash at $12 per share Journalize the two reasury stock transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Date July 1 Sept 1 Debit Credit
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